Bitcoin was just touching the key annual level when heavy selling pressure pushed it down hard. This rejection was quite decisive, clearly visible on the candlestick chart—the strength of the sell-off by funds is simply more aggressive than anything else. The current situation is like this: if we don't reclaim this level, no big rally is to be expected; at best, it will be a choppy sideways movement with ups and downs.

The logic behind the market is straightforward—big funds simply do not want Bitcoin to stabilize at this level. If an effective breakout isn't achieved, even if there's a rebound later, its strength will be significantly diminished. This isn't complicated technical analysis; it's purely a tug-of-war between the funds.

For traders on the scene, the operational mindset is very clear:

Those already holding positions should decisively reduce their holdings if they encounter a rebound near the annual level. Don't expect it to break through directly; greed will only lead to more losses.

Those who haven't entered the market yet, don't rush to buy the dip now. Acting before the level stabilizes is essentially gambling on the market, with low odds of success. Wait for clearer signals before stepping in; the risk will be much lower.

Pay close attention to stop-losses—the current lower boundary of the oscillation is your line of defense. Break it, and you must exit—no negotiations. Many get repeatedly worn down here, ultimately losing patience and giving in.

Ultimately, the market is dictated by funds, and fighting against them is a dead end. Those who recognize the trend make money, while opponents lose money—that's just how it is. Keep a close eye on this key level's movements and wait for real signals to appear; that’s more important than anything else.